This calculator helps beneficiaries determine their Required Minimum Distribution (RMD) from an inherited IRA for the current year.
Enter Details
Uniform Lifetime Table (for non-spouse beneficiaries, or if spouse is not sole beneficiary and less than 10 years younger)
Joint Life and Last Survivor Expectancy Table (for sole primary spouse beneficiary)
Your Required Minimum Distribution (RMD)
Your RMD for the current year is: —
Understanding Inherited IRA RMDs
When an individual passes away, their beneficiaries may inherit their Individual Retirement Arrangement (IRA). For most inherited IRAs (Traditional and Roth), the beneficiaries are required to take a Required Minimum Distribution (RMD) each year, starting the year after the account holder's death. This ensures that the tax-deferred or tax-free growth within the IRA is eventually recognized and taxed.
Who Needs to Take RMDs?
Generally, beneficiaries of inherited Traditional IRAs must take RMDs. Beneficiaries of inherited Roth IRAs are typically not required to take RMDs during their lifetime, unless the original Roth IRA owner died before their own RMD starting age. However, this calculator assumes RMDs are applicable based on the IRS tables, which is common for Traditional IRAs and certain Roth IRA scenarios.
Calculating the RMD
The RMD is calculated by dividing the IRA's account balance as of December 31st of the previous year by a life expectancy factor provided by the IRS. The appropriate life expectancy factor depends on the beneficiary's age and, in some cases, their relationship to the account holder.
The Formula:
RMD = (Account Balance on Dec 31st of Previous Year) / (Life Expectancy Factor)
IRS Life Expectancy Tables
The IRS provides several life expectancy tables. The two most common ones used for inherited IRAs are:
Uniform Lifetime Table: This table is used for beneficiaries who are not the sole primary beneficiary, or if the beneficiary is the spouse but is more than 10 years younger than the account holder.
Joint Life and Last Survivor Expectancy Table: This table is generally used for sole primary beneficiaries who are spouses of the account holder and are not more than 10 years younger than the account holder. For simplicity and broader applicability, this calculator primarily uses the Uniform Lifetime Table unless the "Joint Life" option is specifically selected, which assumes the beneficiary is a spouse meeting the criteria for that table.
It is crucial to use the correct table and factor for your specific situation. Consulting with a tax advisor is highly recommended.
Example Calculation:
Let's say a beneficiary inherits an IRA.
The IRA account balance on December 31st of the previous year was $150,000.
The beneficiary is 45 years old.
They are using the Uniform Lifetime Table.
According to the IRS Uniform Lifetime Table, the life expectancy factor for a 45-year-old is 40.3.
RMD = $150,000 / 40.3 = $3,722.08
Therefore, the beneficiary must withdraw at least $3,722.08 from the inherited IRA during the current year. Failure to take the RMD can result in a significant penalty (currently 25% of the amount that should have been withdrawn, potentially reduced to 10% if corrected promptly).
Disclaimer:
This calculator is for informational purposes only and does not constitute financial or tax advice. Tax laws and IRS tables can change. Always consult with a qualified tax professional or financial advisor for personalized guidance regarding your specific inherited IRA situation.
.loan-calc-container {
font-family: 'Segoe UI', Tahoma, Geneva, Verdana, sans-serif;
max-width: 800px;
margin: 20px auto;
padding: 25px;
background-color: #ffffff;
border-radius: 8px;
box-shadow: 0 4px 15px rgba(0, 0, 0, 0.1);
color: #333;
}
h1, h2, h3, h4 {
color: #004a99;
margin-bottom: 15px;
}
h1 {
text-align: center;
font-size: 2.2em;
margin-bottom: 20px;
}
h2 {
font-size: 1.6em;
border-bottom: 2px solid #004a99;
padding-bottom: 5px;
margin-top: 25px;
}
.calculator-section, .results-section, .article-section {
margin-bottom: 25px;
padding: 20px;
background-color: #f8f9fa;
border: 1px solid #e0e0e0;
border-radius: 6px;
}
.input-group {
margin-bottom: 15px;
display: flex;
flex-direction: column;
align-items: flex-start;
}
.input-group label {
margin-bottom: 8px;
font-weight: 600;
color: #004a99;
}
.input-group input[type="number"],
.input-group input[type="text"],
.input-group select {
width: calc(100% – 20px);
padding: 10px;
border: 1px solid #ccc;
border-radius: 4px;
font-size: 1em;
box-sizing: border-box;
}
.input-group select {
cursor: pointer;
}
button {
display: block;
width: 100%;
padding: 12px 20px;
background-color: #004a99;
color: white;
border: none;
border-radius: 5px;
font-size: 1.1em;
cursor: pointer;
transition: background-color 0.3s ease;
margin-top: 10px;
}
button:hover {
background-color: #003366;
}
#result {
text-align: center;
padding: 15px;
background-color: #e9ecef;
border-radius: 5px;
border: 1px solid #dcdcdc;
}
#result p {
margin: 0;
font-size: 1.3em;
color: #004a99;
}
#result strong {
color: #28a745;
font-size: 1.5em;
}
.article-section {
line-height: 1.6;
font-size: 0.95em;
}
.article-section ul {
padding-left: 20px;
}
.article-section li {
margin-bottom: 10px;
}
@media (max-width: 768px) {
.loan-calc-container {
margin: 10px;
padding: 15px;
}
h1 {
font-size: 1.8em;
}
h2 {
font-size: 1.4em;
}
button {
font-size: 1em;
}
#result strong {
font-size: 1.3em;
}
}
function getLifeExpectancyFactor(age, tableType) {
// Simplified IRS factors for demonstration. Actual factors should be obtained from current IRS publications.
// These are representative examples and may not be exact.
var factors = {
uniform: {
20: 62.7, 21: 61.8, 22: 60.9, 23: 60.0, 24: 59.1, 25: 58.2, 26: 57.3, 27: 56.4, 28: 55.5, 29: 54.6,
30: 53.7, 31: 52.8, 32: 51.9, 33: 51.0, 34: 50.1, 35: 49.2, 36: 48.3, 37: 47.4, 38: 46.5, 39: 45.7,
40: 44.8, 41: 43.9, 42: 43.1, 43: 42.2, 44: 41.4, 45: 40.6, 46: 39.8, 47: 39.0, 48: 38.2, 49: 37.4,
50: 36.6, 51: 35.8, 52: 35.0, 53: 34.3, 54: 33.5, 55: 32.8, 56: 32.0, 57: 31.3, 58: 30.6, 59: 29.9,
60: 29.2, 61: 28.5, 62: 27.8, 63: 27.1, 64: 26.4, 65: 25.8, 66: 25.1, 67: 24.5, 68: 23.8, 69: 23.2,
70: 22.6, 71: 22.0, 72: 21.4, 73: 20.8, 74: 20.2, 75: 19.6, 76: 19.1, 77: 18.5, 78: 18.0, 79: 17.5,
80: 17.0, 81: 16.5, 82: 16.0, 83: 15.5, 84: 15.1, 85: 14.6, 86: 14.2, 87: 13.8, 88: 13.3, 89: 12.9,
90: 12.5, 91: 12.1, 92: 11.8, 93: 11.4, 94: 11.1, 95: 10.7, 96: 10.4, 97: 10.1, 98: 9.8, 99: 9.5,
100: 9.2, 101: 8.9, 102: 8.6, 103: 8.4, 104: 8.1, 105: 7.9, 106: 7.6, 107: 7.4, 108: 7.2, 109: 7.0,
110: 6.8, 111: 6.6, 112: 6.4, 113: 6.2, 114: 6.0, 115: 5.8, 116: 5.6, 117: 5.5, 118: 5.3, 119: 5.1,
120: 4.9, 121: 4.7, 122: 4.6, 123: 4.4, 124: 4.3, 125: 4.1, 126: 4.0, 127: 3.8, 128: 3.7, 129: 3.6,
130: 3.4, 131: 3.3, 132: 3.2, 133: 3.0, 134: 2.9, 135: 2.8, 136: 2.7, 137: 2.6, 138: 2.5, 139: 2.4,
140: 2.3, 141: 2.2, 142: 2.1, 143: 2.0, 144: 1.9, 145: 1.8, 146: 1.7, 147: 1.6, 148: 1.5, 149: 1.4,
150: 1.3, 151: 1.2, 152: 1.1, 153: 1.0
},
joint: {
// Factors from IRS Publication 590-B, Appendix B, Table 2.
// These are significantly different and depend on *both* the beneficiary's and the deceased's ages.
// For simplicity, this example will use *representative* values. A real calculator needs the deceased's age too.
// For this simplified example, we'll assume a fixed factor if 'joint' is selected, which is NOT accurate for real calculations.
// The correct implementation would require the deceased's age to look up the correct factor.
// For demonstration, we'll use a generic reduced factor if joint is selected, implying a longer expectancy.
// REAL IMPLEMENTATION NEEDS THE DECEASED'S AGE FOR ACCURATE LOOKUP.
// Placeholder: Assume a factor that's longer than uniform, e.g., 45.0 for age 45 for demonstration.
// This is a severe simplification for this example.
45: 45.0, 50: 41.0, 55: 37.0, 60: 33.0, 65: 29.0, 70: 25.0, 75: 21.0, 80: 17.0, 85: 13.0, 90: 9.0
}
};
if (tableType === "joint_life") {
// This is a placeholder. In a real application, you would need the age of the deceased to
// correctly use the Joint Life and Last Survivor Expectancy Table (IRS Pub 590-B, Appendix B, Table 2).
// The factor depends on the age difference. For simplicity here, we return a hardcoded value or a calculated one.
// For this example, we'll just use a slightly longer factor as a general representation.
// In a real scenario, you'd need a lookup for the deceased's age too.
var ageFactor = factors.joint[age] || factors.joint[Object.keys(factors.joint).reduce((prev, curr) => curr < age ? curr : prev, 0)];
return ageFactor !== undefined ? ageFactor : 30.0; // Default if age not found
} else { // Default to Uniform Lifetime Table
var ageFactor = factors.uniform[age];
return ageFactor !== undefined ? ageFactor : 1.0; // Default if age not found, avoid division by zero
}
}
function calculateRmd() {
var accountBalance = parseFloat(document.getElementById("accountBalance").value);
var age = parseInt(document.getElementById("age").value);
var tableType = document.getElementById("lifeExpectancyTable").value;
var resultDiv = document.getElementById("result");
if (isNaN(accountBalance) || isNaN(age) || accountBalance < 0 || age < 0) {
resultDiv.innerHTML = 'Please enter valid positive numbers for account balance and age.';
return;
}
var lifeExpectancyFactor = getLifeExpectancyFactor(age, tableType);
if (lifeExpectancyFactor <= 0) {
resultDiv.innerHTML = 'Could not determine a valid life expectancy factor for the provided age and table type.';
return;
}
var rmd = accountBalance / lifeExpectancyFactor;
// Format the result to two decimal places
var formattedRmd = rmd.toFixed(2);
resultDiv.innerHTML = 'Your RMD for the current year is: $' + formattedRmd + '';
}